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unemployment benefits for some 2 million people. since congress missed the deadline last night, technically the country has already gone over the fiscal cliff. the bush-era tax cuts have expired so everybody's tax rates have gone up but if a compromised bill is passed, retroactively they can pass it. >> this represents the least we could have done under these circumstances. >> it fails to address the mortal threat -- uncontrolled spending. >> reporter: there's one deadline they cannot ig know. >>> the new congress begins monday at 12 p.m. karen travers, abc news washington. >> we have more at just head to our home page and look for the featured stories. >>> all right. a lack at maryland's most powerful radar. very little of that precipitation has made its way north. all of it well, well south. conditions are still dry. clouds are holding tough around the area. that storm is staying south and still pretty cloudy around here. again, we stayed nice and dry. upper 30s in reisterstown, hick core ri and man chester. 42 in pape pea. cloudy and dry, getting cold. colder still as we go
nights like this where we're up against the clock and congress has to act and the president -- they have to figure out how to compromise or watch automatic headaches kick in. >> chuck todd is going -- it's going to be a long night. thanks for being with us on wall street today, this final trading day of the year. investors were hopeful of a deal would be worked out by the time the closing bell rang at 4:00. stocks soared to their highest point today. capping an up year. the dow finished 166 points up, the nasdaq rose 59 points and the s&p 500 was up almost 24 points on the day. for the year, the dow finished with a 7% gain. the nasdaq was up almost 16% this year and the s&p 500 gained more than 13%, a very strong year for stocks. so let's bring in cnbc's senior economics reporter steve liesman. steve, we just said the market was way up today, they thought we would have a deal. now we're headed over the cliff. this can't be good news for our economy. >> reporter: it definitely would not be. and if you take all the things that kelly mentioned and add them up, that's about a 4% hit to gross
thing false apart. >> there's going to be a whole new congress starting thursday at night so they start from scratch. in the meantime, the markets will open tomorrow. they are very worried about continuity, et cetera. >> this legislation expires thursday at noon. you might see some liberal democrats say forget about it. republicans don't like that but they don't like that, for example. >> there are a lot of senate liberals that voted for it and didn't love it. and a lot of liberals are arguing that obama caved and they don't like the deal that he negotiated and they might say, you know what, we're already over the cliff. let's wait for the new congress to get in the house. we'll start over. so this is pretty bad news if you think from the perspective of wanting a deal before thursday. >> if they start all over again, they could do it within a few days and my experience in washington, the longer you wait on a deal like, this the more complicated potentially you could get. >> they can't let us continue on the fiscal -- we've gone over the fiscal cliff. >> unemployment could go from 7.75%
in milk prices. a last-minute additioo would also prevent a pay raise for members of congress from lawmakers are rrlievee thht phey ffnally reached an agreement. whole sot: working through the &pnight... weeve reached a deal.... ..... this legislation doos that that whole sot: we can say we've done some good or the country.... through... repuclibans arr eady for &pfor the house is expected ttovote on the proposal either today or tomorrow. cliff... llwmakers also have ceiling.the u-s rrached it's legal borrowing limit of 16-point-4 trillion dollars yesterday.the treasury department is taking measurrss to buy time until the end of february.they include... suspending some investmenns in peneeit funds for fedeeal worrers.but after that... the &ptreesury will not be able to in full... and on timm.s bills congress would have toovote n raising the debt ceiliig... setting the stage for another fight n capital hill. even though gas prices nevee went higherrthan they did back in 2008... gas prices.. onn aveeage... forr2212 were the ever.the naaionwide average prices for a gallon of regul
their arguments. this is the way congress does business in the dark of night without any transparency to what they are doing, and i think ultimately, that's one of the reasons the american public has such little faith. >> you can't blame them, jonathan, they only had 517 days to work this out at some point it will take to you the middle of the night. good to see you as always. continue that habit of not sleeping in congress. jonathan allen joining us at the capitol. >> i say that about cnn. >> i've done it. in that room once and it is hard. >> he didn't lose it for 2013, the gripping sar chism. >>> football, not the only game in town. stay with cnn all day for all of the developments, house back in session at noon this is not over yet. could be a lot more. >> very compelling. totally not watching football today. >> don't watch football, watch us. >>> in other news, hillary clinton's doctors revealing details about the blood clot that handlaned her in the hospital. doctors say mrs. clinton did not have a stroke or suffer any neurological damage, they also say they are confident that the second
tomorrow. it's a new congress as they need to start all over again. >> reporter: well, good to be with you, gary, on the historic day on capitol hill. could be a late night. gary will be here with the very latest at 11:00. back to you. >> talk about pushing it to the very end. andrea mccaren and gary, thank you. >>> you have seen us ask several lawmakers in the last few months if they would be willing to cut their own salaries to get a deal. tonight, we can tell you that the version of the deal passed by the senate early this morning does include a provision to stop the pay raises for all members of congress. it remains to be seen if it will survive in the house. >>> you can get all an alert sent straight to your phone, whatever the house vote, whenever they vote. just text the clip to 25543 for the latest information. >>> anita today marked the first day of the same-sex couples that they could start tieing the knot in maryland. seven couples decided to do just that on the banks of the chesapeake bay. >> reporter: i'm scott broom on the eastern shores where seven same-sex couples tied the
] >> reporter: certainly some members of congress not happy with this deal that was struck last night. however, mitch mcconnell, a republican himself, says this was a good deal for americans. the house is back in session at noon and will likely take up this vote right away. back to you. >> thanks, deal yarks live on capitol hill -- delia, live on capitol hill. >>> jessica doyle is back with a look at the economy and the cliff. >> we've been worried for months. if we go over the fiscal cliff, we're going to have a recession. it's all going to end. it's all awful. guess what? we don't have a deal. we have outlines of a deal. we don't actually have a real big picture grand compromise kind of deal. what does this mean for our economy? experts are saying we're probably not headed for a recession but we probably shouldn't expect barn burner economic growth for all of 2013 either because of the fiscal cliff. with a deal on the table right now, the nation is probably looking at tax hikes on households making more than $450,000 a year. that could exert a little drag on the overall economy. the biggest
for a p tax cut. and then one interesting vo ini members of congress, they are told by the leadership in the house republican side that they are too for the rest of the night remain in an accessible state. i'm told that they were not talking about their physical location. they were told to be prepared to have to vote later on this evening i should say, larry. >> not to speak of their enebriation. >> that is correct. at some point they may have to send out the mp's. >> i love that. me, i haven't had that in close to 18 years god bless. >> and you are a better man for it. >> you are sweet. let's move on. here is an update from an old friend and pair of ours, author of "beyond outrage" and steve moore, i guess robert reich attacks things, but why is it your democratic friends never want to cut spending and never want to shrink the government? why is that? >> i think a lot of documents are willing to cut spending that maybe you would agree with, larry. the problem with this bill, the biggest problem is it doesn't deal with the debt ceiling. we are going to have trench warfare and this is
and so we could expect this to go late into the. >> night. now the deadline on this really noon on january 3rd. that is when congress the 112th congress expires. the 113th comes in and all the business that are passed especially the one from the senate. they expire. you can't make them into law anymore. you would have to start this legislative process up again if you don't get this passed by january 3rd at noon. >> rich, i mean looking at how plan b was received, boehner's plan b, there were fewer tax increases in that and the same issue with no spending cuts being dealt with and yet he couldn't get enough republican votes to get that through. so how realistic is it that they managed to get enough to pass this senate bill? i know they have democratic support in this case but is it enough? >> that is the key. the thinking is it might be enough. nobody is talking specific numbers and that is the problem because they don't know, the conversations haven't started yet between democrats and republicans seriously how many members they can bring to get the 218 votes needed to pass this
? >> this is about the art of compromise. when congress waits until the last minute to address a bill here we are january 1st and they are addressing a bill that expired last night. >> you mentioned the debt kreeging we hit it yesterday. we had security measures in effect. that will put it off for two months. but then we will be right back here at the bargaining table. our credit rating dropped the last time we had this debt ceiling debate. is the >> no question we will be back in two months having this discussion. credit rating is in trouble. congress has to look at the spending side. the bill does nothing for spendi spendispend. that matters to americans because it effects every sij american by having a higher interest rate. it's very important. both sides were together cooperating and finding a way to cut spending. >>> thank you soichl. so much. >> thank you. happy new year. >> 48 after the hour with the new year come a slew of new laws including some that could surprise you such as a ban on letting pigs run wild. some lawmakers quenching their thirst for regulations with this plastic wate
, be very similar to what we just passed last night, but done it with everybody participating, everybody understanding, the american public thinking that congress is actual little getting something done. that would be a huge relief. i think we could have done that with an open amendment process, limiting it probably to relevant amendments. there are a lot of different things people would like to bring up because they don't know any other way they're going to get a vote. but i keep reminding my colleagues when you bring up one of those irrelevant amendments it might make it into a bill but it will be pulled out in conference committee. you still didn't win anything. i guess you could make a big press release about how you got that into the bill to begin with, but i want to talk mostly today about the questions that i hear from americans who say why can't politicians in washington get along, why is there this gridlock? those are questions folks outside the beltway have been asking. but like many questions, the answer is involved. for many, including president obama and senate majority lead
as much to budget savings. what congress is doing now, what the senate did last night, is basically undo quite a bit of that deficit reduction. the will and do quite a bit of the tax cuts, but will put up the sequester, so while there are playing these deficit gains and and doing a lot of the work, it is happening in the context of what is a real jobs crisis in this country. they are paying -- aire playing these deficit kings back and forth, while the real crisis is unemployment. host: not -- a bad deal? caller guest: he was telling liberals that they will hold a firm and this is what they want. nobody believed that would hold exactly to that figure. they got about half of what they were asking for. host: what has been the reaction from liberal groups? guest: they have been against it. it looks like it might be effective in the senate. i'm not sure it will be powerful in the house later today. host: do you think nancy pelosi can deliver the votes? guest: we know the republicans will lose some number of votes. marco rubio voted against it. that is a sign of unrest. i have talked to some s
the courts serve. i therefore encourage the president and congress to be especially attentive to the needs of the judicial branch and provide the resources necessary for its operations. rick: well, about a million people filling times square last night to bring in 2013 with a bang. >> five, four, three, two, one, happy new year. rick: that was the scene and with this new year comes a whole slew of new laws, some controversial. others some people would find just plain silly. all of them taking effect all over the country today and shannon bream is live in washington this morning to help make sense of them all. good morning, shannon. happy new year. >> reporter: do to you, as rick. about these laws they meant something to a group of lawmakers to get passed and onto the books. in kentucky it is real legal to release ferrell or wild hogs into the wild. in florida swamp buggy is no longer legally considered a motor vehicle. there are a number of employment related measures including this. in oregon it is now illegal for employers to advertise a job opening if they won't consider applicants unem
were celebrating this new year, congress was working on this deal. the president and senior republicans were able to reach an agreement. in the middle of the night, senate passed it with bipartisan support. this means most people's taxes will stay the same and income tax rate also go up but only to the highest earners. unemployment benefits will keep coming for those that have been out of work the longest and spending cuts for government programs and the military will be on hold a couple of months, giving congress more time to figure out how to reduce the deficit with other kinds of changes. that was just the senate working in the middle of the night. the house of representatives comes in today with pressure on them to make a deal as well and to cast a vote. that fiscal cliff has arrived but it looks like a solution is in place. andrea? >> thanks, kelly. your voice sounds a little like mine this morning. >> reporter: indeed. >>> doctors treating secretary of state hillary clinton for a blood clot in her head say they're confident she'll make a full recovery. more from chief science corr
of february. those moves include suspending some benefit funds. congress must vote to raise the debt ceiling setting the stage for another fight on capitol hill. >>> some people wrapped up their 2012 by donating to charity. all day and night car after car dropped off in donations at the salvation army center in alexandria. many people got in a final big donation before the end of the year for tax purposes of course. others gave away their old things to make way for new stuff santa brought them. >> a tremendous turnout with donations. again, you know, the salvation army does a lot across all over the world so people feel comfortable coming here with their donations and we take good care of the stuff that they donate. >> the salvation army estimates some 1700 cars came by its alexandria center yesterday alone. i've been giving to goodwill the last couple of days to get rid of stuff, get in the tax donations and it's the right thing to do. >> that place is huge. just pull in. >> on this last day of the year, it is unbelievable. thank you. >>> hillary clinton, her blood clot is very close to her
a scheduled $900 pay raise for congress that was scheduled to take place in march. let's listen to what some folks had to say last night. >> it would extend unemployment insurance to two million americans who are out there still actively looking for a job. >> this shouldn't be the model for how we do things around here but i think we can say we've done some good for the country. >> reporter: the senate did some good for the country. we'll see if the house approves their deal and really makes this a done deal for the country. however, the house does have some issue and a lot of folks say that this just delays the inevitable pushing us over the so-called fiscal cliff. so we'll have that side of the story coming up at 6:30. mike, andrea, back to you. >> delia goncalves reporting live from capitol hill. >> es it 16:04. jessica -- it 16:04. jess -- it is 6:04. jessica doyle is back with your money report. >> we still have the whole debt limit thing? that's right. it is official. we have as a nation gone over our debt limit. that happened yesterday to the tune of $16.4 trillion in terms of what we
with this congress. we're in the last throes of the typical theatrics that have been the norm in washington over the last couple of years. there's going to be a few more shenanigans before the night is over. but they're probably going to end up voting on this bill. if they don't approve it, do realize, if they don't approve it, the senate is not going to take up any bill. and that means this entire fiscal cliff miss will not be solved at all. they'll have to start all over with the new congress which gets sworn in in two days. and it could take weeks and everybody's taxes go up. it doesn't -- not just $250,000. everybody's taxes go up. so it could be a real mess. but i think we're in the last throes of sort of the washington shenanigans. >> and you're standing on the white house lawn. how is the white house dealing with today's developments? >> reporter: they have been nothing but bystanders today. i think at the beginning of the day, we caught pictures of a van being loaded up with luggage and golf clubs, presumably maybe the president's. i think there's been an expectation that this would get
be invoked and they could delay the new congress from coming in, i think we would have to talk to the experts about that, but what we are looking at now potentially is another long night is the bottom line here. and remember that you are going to start to see economic reaction if this starts to signal like this might not happen. you have the asian markets opening up tonight. we will get our first indication of what the world thinks of all of this back and forth in washington. and then tomorrow the u.s. markets react for the first time to whatever happens here in washington over the next 24 hours. >> it is not going to be good. it will get messy quickly. brett, happy new year to you and your family. you can see 6:00 p.m. eastern on a special edition of "special report" and will be here -- as he said it will be a long night and a long night for brett depending on t here for youin dc. on fox. >> more now on the fallout from the fiscal cliff deal as we take a look at the major players on both sides of the aisle. we try to figure out the winners and the losers in this big fight according to the wa
new yorkers are crammed into times square. >> it is a chilly night >> it is frigidly cold, >>> but in the nation's capital, no one's breaking out the champagne. at least not in public. >> it looks like i'm gonna be spending new year's here in dc. >>> congress fails to meet its the fiscal cliff. the u.s. will go over the fiscal cliff tonight at midnight. because of a decision by the republican- led house of representatives to adjourn until tomorrow. and yet despite this decision, we are hearing that. though a day late. congress and the white house have reached a deal. kron 4's dan kerman is here with the very latest on this developing story. >> reporter: the bush tax cut expire at midnight, and if nothing is done, taxes go up for middle class americans. that is what everyone is trying to avoid. late monday evening vice president joe biden and senator harry read headed to the capitol to brief democrats on a deal worked out between congressional leaders and the white house to prevent across the board spending cuts and tax hikes. >> i think that this is a modest goal that we c
the outset, let me be clear. i strongly support freezing the salaries of members of congress. i signed a letter to do that. if this bill did only that i would be an original co-sponsor, but it doesn't. the senate last night did just that. it froze our salaries, but it didn't do this. it didn't extend that freeze for a third year to the men and women who serve our country in federal service. the bill before us today cynically pairs a pay freeze for us in congress with a continuation of the pay freeze in career civil servants. it's another tired duplicative cheap shot at our nation's dedicated federal work force. if members of congress and the public simply take a look at the scoreboard, they'll see that with respect to the deficit reduction, federal workers have not only born a share of the cost, they have born the only share of the cost. federal employees have contributed already $103 billion toward deffings reduction through an extended pay freeze that continues to this day and benefit cuts. for example, federal workers contributed $60 billion toward deficit reduction as a result of t
adams mill road and northwest. congress heights back in southeast and, you know, along the way, popular might spots, u street corridor, barracks road. just to name a few. it was a popular route last night. when the bus got here in the 2200 block of martin king, a vicious attack occurred that left would women hospitalized. i was around 2:15 a.m. on the 93 bus headed to congress heights. according to metro, two women onboard that bus got into an argument with a male passenger. as the bus traveled south on martin luther king avenue, things got violent. male passenger stabbed one of the females several times in the chest, arms, legs. the woman she had been riding with was beaten in the head and face. possibly with some kind of object. authorities say that one of the victims alerted the driver who stopped the bus and alerted police. the attacker ran and remains at large. it was back on december 9 when a woman with a baby was shot and killed as she tried to board a metro bus on minnesota avenue. the baby was wounded as was the bus driver. these two violent crimes have those that ride metro bu
, the senate was in session in the middle of the night passing a bill after the fiscal cliff deadline went by. >> we have done good for the country. >> since lawmakers missed the deadline. every american wakes up with higher tax and congress can undo those hikes if the house passes the senate bill. vice-president biden told reporter he hopes that the bill gets through the house. >> you shouldn't predict how the senate will vote before they vote and you surely shouldn't predict the house vote. >> the senate bill would extend tax cuts for all workers . raises taxes on people above $40000. >> and extend unemployment benefits for two million. the house will take up the bill this morning and hopefully the chamber can pass it before the economy is rocked by the tax hikes. >> i feel good. >> president obama call would the senate vote the right thing to do for the country and encouraged the house to pass the bill right away. >> new defrom doctors treating hillary clinton on her blood clot. it is it collected between the brain and skull behind the right ear. they are treating her with blood thinners.
? >> one thing we learned, mara, is that with this congress things are going to go todown t the last minute. both sides were using their leverage. there were a lot of changes last night to the bill. we haven't talked much about the sequester side but the mandatory spending cuts to the defense department and other places are pushed back for two months. there was a lot of movement on both sides as luke russert talked about on the tax issue. also on a few other examples such as the estate taxes, the white house sort of gave some ground there. allowing estates not to be taxed up to $5 million. there was a lot of movement. joe biden did come in and act as the closer and i think you would see from the house there are a lot of expectations that john boehner is going to have a lot of work to do but that he can't allow this thing to go down again like plan b did. he is, you know, his re-election possibly for the next speakership in two days so he wants to come out looking not only good but strong for the next round in two months. >> as david mentioned the senate punted on the sequester, the federal
at noon on thursday, the 113th congress is sworn in. that's a new congress, new senate, new house of representatives. they have to start from scratch. the legislation that passed in the middle of the night last night, that's going to have to be passed once again in the senate if they don't get this done before thursday at noon. remember, tomorrow's a regular day on wall street. markets are opening tonight on the east coast of the united states, the asian markets will be opening. people will be watching closely to see if there's stability, if there's continuity, a disrupt tur, and the great fearing of course the house of representatives doesn't follow the senate's lead and passes legislation that the president will immediately sign into law. there could be a breakdown in all of that. taxes will go up on everyone, spending cuts imposed, sequestration, mandatory defense, domestic spending cuts will go into feick and that could be a major dislocation on the world markets. >> let's talk about that. you know the formal term s sequestration but it's about the massive cuts $110 billion of
congress a little extra time to undo the damage from going off othe cliff. mike emanuel is on capitol hill. mike, what are we expecting tonight? >> it promises to be a busy night ahead. senators are still hoping to vote at some point later this evening before that happens. they are going to want the congressional budget office, nonpartisan organization to determine the cost or savings of any eventual package. all kinds of promises were made in washington. but the cbo. the congressional budget office figures out exactly what something costs or how much money it may save. then the bottom line they need to find pay fors for automatic spending cuts that are due in the new year to defense and domestic programs. still a leading senate conservative says, he is weighing his options. >> you know, i want to see the details. and we'll see. so, you know, it's just we have gone through a lot in the meeting and i want to settle back and, you know, understand the details of it a little bit. we have the debt ceiling that's coming up soon. and i want to think about how this and that tie together and the ti
day of 2013. >> and i'm paula faris on this first day of 2013. senators worked late into the night, but no luck, at least not really. was the fiscal cliff averted? kind of, sort of. yes. >> not really, but yes. >> congress still missed the deadline to avoid the fiscal cliff. we'll have the latest on negotiations in a moment. but first, a look at some of the other stories we're following for you on this new year's day. hillary clinton spending today in the hospital, as we're learning more about her condition. and doctors revealed just how dangerous that blood clot could have been. you won't believe where the clot was located. >>> also this morning, new year's eve celebrations in new york and around the world as millions ring in 2013 with music and cheers. >> as 2013 begins, so does a long list of new laws. since you need to know, we're going to tell you where you can no longer let pigs loose or sell a shark fin. some of those unusual -- >> about here in the studio? i thought they banned that years ago. >> figuratively. >> we have in fact gone over the fiscal cliff. but lawmakers are
on by noon on thursday, then they start all over again because they swear in the 113th congress, new senate, new house they start from scratch, none of the legislation that passed the last night in the senate or might pass the house today is going to mean much because they have a whole new cast of characters, a lot of new members, new senators, new members of the house coming in. they start from scratch. they really don't have a lot of time and, remember, deb, if they don't get this done today, or at least by tomorrow, the markets are going to react and there is probably going to be a significant drop in the markets because people are nervous out there about what is going to happen. if they also don't pass anything, those draconian tax increases on everyone, not just people making more than $400,000 a year or $450,000 a year, taxes, tax rates are going to go up on almost all federal income taxpayers, and the spending cuts, the cuts in the sequestration isn't called, the domestic spending, the national security spending, they will go into effect as well. going to be a lot of jobs that will b
. >> steve: bob corker accused the president of essentially heckling congress at that particular press event yesterday afternoon. charles krauthammer also said last night that when he was running for reelection, the president had to talk about i'm interested in making the significant spending cuts to get us on the right track. now that he's being reelected, where were the gigantic spending cuts in this deal with the senate? there aren't any. and will he have any going forward? charles krauthammer is skeptical. >> brian: here is the thing, if he wanted to balance the budget, anyone looking at the budget knows that you have to have spending cuts. it's not a democrat or republican issue. >> steve: harry reid has not brought autopsy budget for three years! >> brian: and the president continues to get a pass from the american people on this. by the way, the only reason the president got elected because he said mitt romney would destroy the country and was a horrible person who i guess would do everything wrong. he talked about this, but he won because 85% of all his efforts were to denigrating mi
will continue in congress with more crucial deadlines in the coming weeks. >>> 7:03. highway 12 in solano county, it has reopened after a head-on collision. four people were killed. this happened about 9:00 last night near the river bridge on highway 12. this is east of rio vista. the chp hasn't given us details about what may have caused the crash or if alcohol may have been involved. >>> and law enforcement agencies were really everywhere during the night, cracking down, looking out for drunk drivers. dui checkpoints were set ulall over the bay area and chp officers were patrolling those highways. yesterday, the chp said the number of dui arrests were down compared to last year. but new numbers for this year's crackdown may be released sometime today. >>> all right. 7:04. we want to check in again with tara. more about the accident in the south bay. >> one in mountain view, the one in the campbell area. 101 northbound at moveit boulevard is the first one -- move fet boulevard is the -- moffitt boulevard. this is a spinout accident. and kest campbell, it's a two- car crash. one lane is blocked.
Search Results 0 to 29 of about 30 (some duplicates have been removed)